CLNK vs. BITW

Last updated Jun 24, 2026

CLNK (Bitwise Chainlink ETF) and BITW (Bitwise 10 Crypto Index ETF) are both Cryptocurrency funds from Bitwise - CLNK tracks the Chainlink (LINK) spot price while BITW tracks the Bitwise 10 Large Cap Crypto Index. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. CLNK charges 0.34%/yr vs 0.75%/yr for BITW.

Performance

CLNK vs. BITW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Chainlink ETF (CLNK) and Bitwise 10 Crypto Index ETF (BITW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLNK

• 1D: -4.58%
• 1M: -20.30%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITW

• 1D: -3.24%
• 1M: -17.92%
• YTD: -32.35%
• 6M: -32.63%
• 1Y: -35.22%
• 3Y*: 52.08%
• 5Y*: 1.78%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLNK vs. BITW - Yearly Performance Comparison

	2026 (YTD)
CLNK Bitwise Chainlink ETF	-45.91%
BITW Bitwise 10 Crypto Index ETF	-37.96%

Correlation

The correlation between CLNK and BITW is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.90

Return for Risk

CLNK vs. BITW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLNK

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BITW

BITW Risk / Return Rank: 4
BITW Sharpe Ratio Rank: 3
BITW Sortino Ratio Rank: 4
BITW Omega Ratio Rank: 4
BITW Calmar Ratio Rank: 4
BITW Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLNK vs. BITW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Chainlink ETF (CLNK) and Bitwise 10 Crypto Index ETF (BITW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CLNK	BITW	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.71	—
Sortino ratio: Return per unit of downside risk	—	-0.86	—
Omega ratio: Gain probability vs. loss probability	—	0.90	—
Calmar ratio: Return relative to maximum drawdown	—	-0.64	—
Martin ratio: Return relative to average drawdown	—	-1.08	—

Drawdowns

CLNK vs. BITW - Drawdown Comparison

The maximum CLNK drawdown since its inception was -48.04%, smaller than the maximum BITW drawdown of -96.46%. Use the drawdown chart below to compare losses from any high point for CLNK and BITW.

Drawdown Indicators

	CLNK	BITW	Difference
Max Drawdown Largest peak-to-trough decline	-48.04%	-96.46%	+48.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-55.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-55.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-91.93%	—
Current Drawdown Current decline from peak	-46.41%	-71.40%	+24.99%
Average Drawdown Average peak-to-trough decline	-33.42%	-69.56%	+36.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	32.56%	—

Volatility

Volatility by Period

	CLNK	BITW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	37.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	67.99%	49.87%	+18.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.99%	65.59%	+2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.99%	108.35%	-40.36%

CLNK vs. BITW - Expense Ratio Comparison

CLNK has a 0.34% expense ratio, which is lower than BITW's 0.75% expense ratio.

Dividends

CLNK vs. BITW - Dividend Comparison

Neither CLNK nor BITW has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CLNK and BITW in my portfolio?

With a correlation of 0.90, CLNK and BITW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CLNK or BITW?

On fees, CLNK is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLNK or BITW?

CLNK is cheaper with a 0.34% expense ratio, compared with 0.75% for BITW.

Which ETF pays a higher dividend yield, CLNK or BITW?

CLNK and BITW have nearly identical dividend yields, around 0.00%.

What is the main difference between CLNK and BITW?

CLNK tracks Chainlink (LINK) spot price, while BITW tracks Bitwise 10 Large Cap Crypto Index. Their fees differ too: 0.34% for CLNK and 0.75% for BITW.